The Defendant is a person who registered a credit business in the name of “C” under the name of “C,” under Article 1025 of the Yongsan-gu, Yongsan-gu, Seoul Special Metropolitan City building B around February 26, 2007 and was engaged in money loans and brokerage business.

The Defendant, while borrowing money from investors at an annual interest rate of 17-20% from investors and lending money at an annual interest rate of 24-30% to persons in need of bonds, was accumulated in the amount of non-performing loans around March 201 and making it difficult to repay the principal and interest to existing investors for normal business operations. As the amount of non-performing loans has become more difficult to repay the principal and interest to existing investors, the Defendant, by deceiving the victim J and receiving investment, was able to use the money for the repayment of principal and interest to existing investors.

Around March 3, 2011, the Defendant made a false statement to the victim “C” office stating that “The financing of the finance business run within the country is necessary. As the business is well-run, it does not have to be able to know about the repayment.” The Defendant borrowed money only for two years after reducing the interest rate of 1.6% per month.”

However, in fact, the principal and interest that have not been repaid to the existing investors who have borrowed money to the defendant at the time reaches approximately KRW 1.7 billion, while the principal and interest that have not been repaid by the defendant was about KRW 1.1 billion and it was almost impossible to recover. Thus, even if the defendant borrowed money from the victim, there was no intention or ability to repay the principal and interest to the victim by making profits from the money lending.

As such, the Defendant, by deceiving the victim as such, received KRW 65 million from the victim to the national bank account under the name of the Defendant on the same day, and received a total of KRW 495 million from that time until February 14, 2012, as indicated in the separate crime list.

Summary of Evidence

1. Defendant's legal statement;

1. Statement to J police officers;

1. A complaint;